Offerpad CFO Peter Knag Steps Down; Controller Andrew Pieper Named Interim CFO
OPAD is trading near its 52-week low of $2.35 (3.2% above the low) on light trading volume (0.2× avg).
Summary
Offerpad's CFO Peter Knag stepped down effective October 20, 2026, with SVP and Controller Andrew Pieper taking over as Interim CFO. Knag remains a Senior Advisor through November 30, 2026, and the company said the departure was not due to any disagreement.
Key Events · Executive and Board Changes · OPAD
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CFO Departs Immediately
Peter Knag stepped down as Chief Financial Officer effective October 20, 2026. The filing states the departure was not the result of any disagreement with the company on operations, policies or practices.
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Interim CFO Named From Within
Andrew Pieper, age 44, SVP and Controller since August 2025, was appointed Interim CFO and becomes principal financial and principal accounting officer. He is a CPA and previously spent over five years in audit roles at KPMG LLP.
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Transition Support Through November 30
Knag remains employed as a Senior Advisor through November 30, 2026, and is eligible for separation payments and benefits under his employment agreement.
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Finance Leadership Gap Amid Capital Needs
The change comes while Offerpad is unprofitable, trading near its 52-week low, and funding itself through a $69.7M ATM program and a revolver recently upsized to $200M — functions the CFO oversees.
Analysis · OPAD · Real Estate & Construction
The immediate departure of the CFO matters most because the replacement is an internal controller on an interim basis, not a permanent outside hire. For a company still unprofitable, trading near its 52-week low, and reliant on a $69.7M ATM program plus an expanded revolver to fund operations, losing the person who owns the cash forecast and lender relationships is a real governance concern. The filing says there was no disagreement over operations, policies or practices, and Knag stays on as a Senior Advisor through November 30, 2026 to smooth the handoff. Still, an interim tag on the top finance seat leaves the capital-raising and cost-cutting agenda without a permanent owner.
How filings like this one have moved
In the 30 days to Oct 28, 2026, 30.7% of the 1698 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was 0.00%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, OPAD was trading at $2.43 on NASDAQ in the Real Estate & Construction sector, with a market capitalization of approximately $11.7M. The 52-week trading range was $2.35 to $28.60. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.